Loans and High Yield

Oberthur Technologies, the French smart cards maker, is refinancing with €650m of new facilities in connection with its IPO, announced on October 19.

A syndicate banker on ING’s high yield and emerging markets desk has left his position at the bank.

Energía & Celulosa (Ence), a Spanish producer of eucalyptus pulp and biomass energy, opened a roadshow on Wednesday for €250m of bonds, in a high yield market that bankers see as slowly reviving.

Innovation Group, the insurance claims technology company, has syndicated £305m worth of loans to finance its acquisition by Axios Bidco, a subsidiary of private equity firm the Carlyle Group.

Gala Coral, the UK gambling company, on Tuesday announced it would repay part of its £275m bond due 2019, one of two notes that will not be absorbed into its merger with Ladbrokes.

ING has laid out the shape of its high yield joint venture between lending and DCM, which will be headed by new arrival Dominique LeMaire.

The Hong Kong subsidiary of Chinese conglomerate Peking University Founder Group has hit the syndicated loan market for a financing of $80m with one bank at the helm.

Legal action being taken against US chemicals firm Chemours over health issues arising from water contamination has led to steep falls in its bond prices, but some market participants on Monday said they were confident the firm would recover quickly.

Nine lenders have come on board a $250m loan for General Interface Solution (GIS), a provider of touch-based technology, leading to an oversubscription.

Chinese developer Soho China has wrapped up a tender offer to repurchase its outstanding notes as part of a debt management exercise. But as the bond price rallied to the repurchase level after the announcement of the transaction, the company managed to buy back less than half of the notes.

Tata Motors has launched a $600m dual-tranche refinancing into general syndication, with the borrower keeping the same top-level syndicate as the original fundraising.

Hong Kong-listed China Tian Lun Gas Holdings has mandated three banks to arrange a $150m borrowing, which has launched into general syndication.